The Netherlands is preparing to become the new financial center of the EU after Brexit
The regulator of the Dutch financial markets (AFM) stated that it is preparing for a 20-fold increase in financial operations occurring on its infrastructure if Britain leaves the European Union in March without any agreements.
AFM noted that, although banks are moving their operations to Frankfurt and Paris, and asset managers to Luxembourg and Dublin, trading houses have unanimously chosen the Netherlands as an alternative to London after the UK left the EU.
“While the focus is on border and customs negotiations, there is already a fairly serious shift in European capital markets. AFM is in talks with more than 150 parties interested in a (Dutch trade) license,” the statement said.
AFM Chairman Merel van Vroonhoven expects that 30-40% of European trading in various financial instruments will be located in the Netherlands and the country will become the center of EU financial trading.